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I No explanation, just need to complete it. Complete the following Cost of Goods Manufactured and Cost of Goods Sold schedules utilizing the provided information
I
No explanation, just need to complete it.
Complete the following Cost of Goods Manufactured and Cost of Goods Sold schedules utilizing the provided information below and your knowledge of the relationships of the various cost and inventory components of these schedules. Please fill in all yellow boxes with dollar-value figures (no decimal places required). For all teal colored cells, please choose the appropriate word or phrase from the available drop down selections. Provided Information: Applied manufacturing overhead costs Actual manufacturing overhead costs incurred $320,000 $309,000 Ending Raw materials inventory Work-in-process inventory Finished goods inventory Beginning $ 8,000 $ 40,000 $ 50,000 $ 25,000 $15,000 Schedule of Cost of Goods Manufactured Direct Materials: Beginning inventory $ 152.000 Total raw materials available 1,000 $ 175,000 Ending raw materials inventory Cost of raw materials used in production Indirect materials used Cost of direct materials used Direct Labor manufacturing overhead Total manufacturing costs incurred in production Beginning work-in-process inventory Ending inventory Equals Schedule of Costs of Goods Sold Beginning inventory Cost of goods available for sale Ending finished goods inventory Unadjusted cost of goods sold Manufacturing overhead Adjusted cost of goods soldStep by Step Solution
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